Exercise 17-5 On January 1, 2017, Blossom Ltd. had 500,000 common shares outstanding. During 2017, it had the following transactions that affected the common share account: Feb. 1 Issued 150,000 shares. Issued a 10% stock dividend. Mar. 1 Acquired 160,000 common shares and retired them. May 1 June 1 Issued a 2-for-1 stock split. Issued 40,000 shares. Oct. 1 The company's year end is December 31. Determine the weighted average number of shares outstanding as at December 31, 2017. (Round answer to 0 decimal places, e.g. 5,275.) Weighted average number of shares outstanding shares Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7%, $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017 Calculate earnings per share for 2017, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7%, $100 par, non-convertible, cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Calculate earnings per share for 2017, using the weighted average number of shares determined above. (Round answer to 2 decimal places, e.g. 15.25.) Earnings per share $ Assume that Blossom earned net income of $3,000,000 during 2017. In addition, it had 80,000 of 7%, $100 par, non-convertible, non-cumulative preferred shares outstanding for the entire year. Because of liquidity limitations, however, the company did not declare and pay a preferred dividend in 2017. Assume that net income included a loss from discontinued operations of $400,000, net of applicable income taxes. Calculate earnings per share for 2017. (Round answers to 2 decimal places, e.g. 15.25.) Earnings per share Income from continuing operations Loss from discontinued operations Net income